The post Bitcoin Price 2023: Arthur Hayes Identifies a Major Catalyst for BTC Price Rally appeared first on Coinpedia Fintech News
Following losing momentum over the weekend, the price of bitcoin surged on Tuesday after data from the US consumer Price Index (CPI) Rate Showed signs of cooling. The Fed released its first report on inflation on Tuesday, and Fed Chair Jerome Powell will talk on Wednesday, putting BTC into a volatile week.
However, the largest cryptocurrency by market cap, Bitcoin, could outperform the stock markets in 2023. Billionaire Arthur Hayes has identified a catalyst and has said that a bleak macroeconomic backdrop would cause the Federal Reserve to eventually loosen its monetary policies next year.
In a new interview with crypto expert Scott Melker, Hayes said that next year, the Fed may have a pivot because the treasury market and the investment-grade corporate bond market might become ‘dysfunctional’. He then explained what he meant by them becoming ‘dys
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